British Wool said since the start of the year auction prices have increased by more than 35 per cent
Wool prices have continued to improve with strong demand at British Wool's latest sale.
There was competitive bidding at the fifth British Wool sale of the 2021 season, with a 99 per cent clearance of wool and 1.2 million kilogrammes sold.
There was a particular interest in the Blackface wool as well as continuing interest in the medium and Mule wool. Welsh Mountain was also sought after and specialist types such as Bluefaced Leicester achieved record prices.
Since the start of the year auction prices have increased by more than 35 per cent, with the average price in last week's sale reaching 73p/kg.
Optimism
Andrew Hogley, chief executive of British Wool, said: "We remain optimistic that the current strong demand will be sustained, that the recovery in the wool market will continue through the year and that this will result in further price improvement.
"As we head towards the winter months and with over 1m kilos of wool being delivered into us this season from producers who did not deliver in the 2020 season, I would encourage any producers who still have wool on the farm, to deliver this into us ensuring they benefit from the current recovery in the market."
He said British Wool had reduced its cost base and was driving new demand.
Mr Hogley added all the wool delivered made an important contribution to supporting British Wool.
On demand, he pointed to the recent launch of Wool Britannia carpet yarn, using wool sourced from farms situated in each of our four nations, by the Headlam Group and a Harrison Spinks traceable mattress range.
"This puts British Wool in a much stronger position to deliver better returns for our producers," he said.
